2 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 6,860 6,860 6,860 xbrli:pure xbrli:shares iso4217:GBP 3391062 2022-07-01 2023-06-30 3391062 2023-06-30 3391062 2022-06-30 3391062 2021-07-01 2022-06-30 3391062 2022-06-30 3391062 2021-06-30 3391062 bus:Director1 2022-07-01 2023-06-30 3391062 core:WithinOneYear 2023-06-30 3391062 core:WithinOneYear 2022-06-30 3391062 core:ShareCapital 2023-06-30 3391062 core:ShareCapital 2022-06-30 3391062 core:RetainedEarningsAccumulatedLosses 2023-06-30 3391062 core:RetainedEarningsAccumulatedLosses 2022-06-30 3391062 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 3391062 core:Non-currentFinancialInstruments 2023-06-30 3391062 core:Non-currentFinancialInstruments 2022-06-30 3391062 bus:SmallEntities 2022-07-01 2023-06-30 3391062 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 3391062 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 3391062 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 3391062 bus:FullAccounts 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 3391062
Overseas Brokers Limited
Filleted Unaudited Financial Statements
30 June 2023
Overseas Brokers Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
1,186
416
Investments
6
6,860
6,860
-------
-------
8,046
7,276
Current assets
Debtors
7
17,000
5,000
Cash at bank and in hand
33,054
45,337
--------
--------
50,054
50,337
Creditors: amounts falling due within one year
8
55,316
53,337
--------
--------
Net current liabilities
5,262
3,000
-------
-------
Total assets less current liabilities
2,784
4,276
-------
-------
Net assets
2,784
4,276
-------
-------
Capital and reserves
Called up share capital
200
200
Profit and loss account
2,584
4,076
-------
-------
Shareholders funds
2,784
4,276
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Overseas Brokers Limited
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 26 January 2024 , and are signed on behalf of the board by:
Mr A NG
Director
Company registration number: 3391062
Overseas Brokers Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 201 Lordship Lane, Dulwich, London, SE22 8HA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
20% of net book value
-
20% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 July 2022
4,971
4,971
Additions
770
770
-------
-------
At 30 June 2023
5,741
5,741
-------
-------
Depreciation
At 1 July 2022 and 30 June 2023
4,555
4,555
-------
-------
Carrying amount
At 30 June 2023
1,186
1,186
-------
-------
At 30 June 2022
416
416
-------
-------
6. Investments
Other investments other than loans
£
Cost
At 1 July 2022 and 30 June 2023
6,860
-------
Impairment
At 1 July 2022 and 30 June 2023
-------
Carrying amount
At 30 June 2023
6,860
-------
At 30 June 2022
6,860
-------
7. Debtors
2023
2022
£
£
Trade debtors
17,000
5,000
--------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
23,172
29,679
Trade creditors
( 173)
Social security and other taxes
1,060
1,690
Other creditors
31,084
22,141
--------
--------
55,316
53,337
--------
--------
9. Related party transactions
The company was under the control of Mr Alex Ng throughout the current and previous year. Mr Alex Ng is the managing director and a shareholder. During the year, a dividend of £1,000 was paid to the director. Apart from this no transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.